Ufone secures largest syndicated financing of 4G Spectrum & Rollout

Observer Report

Pakistani telecom company, Ufone has secured its largest syndicated financing facility jointly led by MCB Bank Limited (MCB) (Agent bank), Allied Bank Limited (ABL), Bank of Punjab (BoP), National Bank of Pakistan (NBP), and United Bank Limited (UBL) to fund the acquisition and rollout of its 4G services across Pakistan.

President and Group CEO, PTCL & Ufone, Mr. Hatem Bamatraf signed the agreement for the syndicated financing of PKR 21 billion at a ceremony held in Islamabad, which was also attended by President, MCB Bank, Mr. Imran Maqbool; Group Head, Corporate Finance & International Banking, MCB Bank, Mr. Shoaib Mumtaz; President Allied Bank, Mr. Aizid Razzaq Gill; Chief, Corporate & Investment Banking, Allied Bank, Mr. Owais Shahid; Head Investment Banking, Bank of Punjab, Mr. Umer Khan, Mr. Abid Kitchlew Divisional Head C&IBG, National Bank, and Mr. Farooq Ahmed Khan Group Head Corporate & Investment Banking, United Bank Ltd.

Previous articleChinese Electric Vehicle manufacturing companies invited to invest in Pakistan
Next articleSugar being sold as high as Rs150 per kilogram